The Recent Global Financial Crisis - 1330 Words

The recent global financial crisis (GFC) started prior to 2007 which represented the first ‘’panic phase’’ as the crisis expanded from a relatively limited proportion of financial markets focused on subprime mortgages into a broad†based run on many types of short†term debt (Gorton and Metrick, 2012) in August of 2007. For the purposes of this essay I shall focus on the general situation between 2007 and 2009 which shaped the GFC rather than the specific events that occurred during that period. In the second part of this essay I shall examine how recessionary conditions affected the incidence of participation and involvement in human resource management using material from company reports and a small survey conducted in the North West of England (Marchington and Kynighou, 2012). What happened during the recent global financial crisis? According to F. Mishkin the GFC of 2007 to 2009 can be divided into two distinct phases. The first and more limited phase from August 2007 to August 2008 is characterized in terms of losses in one relatively small segment of the U.S. financial system—subprime residential mortgages. Yet, at that time GDP in the U.S. continued to rise into the second quarter of 2008 hence, forecasters were predicting only a mild recession. In mid-September 2008, however, the GFC became far more wide spread. One of the major events which had helped shape the later situation was the bankruptcy of the investment bank Lehman Brothers on September 15, 2008. Further,Show MoreRelatedCredit Derivatives in the Recent Global Financial Crisis1671 Words   |  7 PagesCredit Derivatives in the recent Global Financial Crisis 1.0 Introduction: In the recent times credit derivatives have become a very popular financial security for investors. If we take a look at the chart given below we can see how the popularity of credit derivatives increased in the past decade. The maximum volume of derivatives was traded during the years 2005 to 2007 of which 2006 was the highest at $2000bn. Then when the financial crisis occurred at the end of 2007 the trading decreased rapidlyRead MoreDiscuss the Importance of Ethics in Business in Light of the Recent Global Financial Crisis (Gfc)1119 Words   |  5 PagesThe 2008 global financial crisis has affected today’s economy severely based on the collapses on issues such as immoral practices, governance, regulations, enterprise ethics. Factors to consider with the collapse that lead to the financial crisis is the dangerous outcomes that financial companies were not foreseen in advanced of borrowing mortgages for the companies. The change of ethics through enterprises demonstrate how b usiness approaches to ethics over the past years where ethics is seen inRead MoreThe Effect of Recent Financial Crisis and Regulatory Implications in Asia1532 Words   |  7 Pageseducation. Now on the larger scale is the impact on the institutional level of the global financial crisis. The financial crisis began in United States in 2007 and spread to other countries. The crisis was triggered by a liquidity shortfall in United States banking system and resulted to the collapse of financial institutions. Asia is one major continent in which the recent financial crisis had spread. The impact of the crisis had far reaching effects on the economy of Asia than many people had anticipatedRead MoreFinancial Crisis And Its Effects On Businesses, Governments, And Consumers978 Words   |  4 Pages The worldwide impact of the recent financial crisis outlines the importance of having a decent understanding of crises. Latest episode has definitely showed that status of economic as well as the financial performance is greatly affected by financial turmoil. During the crisis, world stock markets have been collapsed, largest financial institutions have been bought out or fallen, and the wealthiest nations like UAE, UK of USA had to stand up and aid their financial systems as well as the economicRead MoreThe Global Financial Crisis Of The Usa1383 Words   |  6 PagesThe recent global financial turmoil started on July 2007 ,mainly in the USA and spread among developed nations in the later part of 2008 and subsequently shifted to the developing nations .this crisis consisted of some prime drawbacks not only for the developed countries but also for developing countries .the most talked about issue in the recent financial arena in the global financial crisis ,which started to show its effect in the middle of the year 2007.the turmoil ,however ,was rooted in theRead MoreThe Structure, Conduct and Recent Performance of the Uk Banking Sector1105 Words   |  5 PagesINTRODUCTION Before discussing the structure, conduct and recent performance of the UK banking sector, it is useful to provide an insight in the recent global financial crisis caused by the sub-prime mortgage crisis initiated in the US and underline its effects on the banking industry in the UK. It all started with the collapse of the housing bubble in the US, as borrowers were no longer able to meet their financial obligations and as consequence many of these subprime mortgages became default andRead MoreThe World s Economy Was Devastated1732 Words   |  7 Pagesof the world’s views, products, ideas and culture. As more and more countries began to interact and the barriers of global economy were broken, the effects of one country’s economic problems could affect their trade partners and other markets. This would be most noted in the next financial crisis for which hit the United States hard in 2008. With the United States alone, the crisis saw the stock market drop, the house market suffer with foreclosures and evictions and a large increase in unemploymentRead MoreWhy India Recovered Quickly From The 2008 Global Crisis Essay1594 Words   |  7 PagesIndia recovered quickly from the 2008 global crisis? Vivek Shah MBA AF 629 December 12, 2016 Introduction It’s the most heard term about the global economy in the recent years and it’s the year we have been always hearing about its 2008. We all have been a part of it in some or the other way and all the major economies had been affected by the global turmoil which eventually lead to the worst situation after the Great depression of 1929. The sub-prime crisis in USA which lead to great recessionRead MoreThe Impact Of Expansionary Monetary Policy During The Great Recession1720 Words   |  7 PagesInternational Monetary Fund (IMF) as the worst global recession of the 20th century since the Great Depression [1]. After eight years, global economies today continue to struggle to find sustainable recovery and robust growth. The crisis was a massive institutional failure that involved the bursting of the asset bubble, the collapse of the stock market, and the moribund employment rate among others. The crisis has since triggered economists, governments, and financial institutions to critically revisit theirRead MoreThe Global Financial Crisis Of Broward College920 Words   |  4 PagesResearch Paper: The Global Financial Crisis Michelle Beira Broward College There have been few financial crises in the United States. The Global Financial Crisis of 2008 to 2009 was the most recent and before that was The Great Depression of the 1930s. The Global Financial Crisis actually began in 2007 when prices of homes tanked. It not only affected the U.S. but it also affected economies overseas. The entire investment banking industry, some of the biggest insurance companies, enterprises

Horse and Depreciation Adjusted Basis Free Essays

Comprehensive Problem Introduction: Betty, whose tax rate is 33%, is in the business of breeding and racing horses. Except for the transactions below, she has no other sales or exchanges and she has no unrecaptured net Sec. 1231 losses. We will write a custom essay sample on Horse and Depreciation Adjusted Basis or any similar topic only for you Order Now Consider the following transactions that occur during the year: * A building with an adjusted basis of $300,000 is destroyed by fire. Insurance proceeds of $500,000 are received, but Betty does not plan to replace the building. The building was built 12 years ago at a cost of $430,000 and used to provide lodging for her employees. Straight-line depreciation has been used. * Four acres of the farm are condemned by the state to widen the highway and Betty receives $50,000. The land was inherited from her mother 15 years ago when its FMV was $15,000. Her mother purchased the land for $10,300. Betty does not plan to purchase additional land. * A racehorse purchased four years ago for $200,000 was sold for $550,000. Total depreciation allowed using the straight-line method amounts to $160,000. * Equipment purchased three years ago for $200,000 is exchanged for $100,000 of IBM common stock. The adjusted basis of the equipment is $120,000. If straight-line depreciation had been used, the adjusted basis would be $152,000. * An uninsured pony with an adjusted basis of $20,000 and FMV of $35,000, which her daughter uses only for personal use, is injured while attempting a jump. Because of the injury, the uninsured pony has to be destroyed by a veterinarian. Task(s): a. What amount of Sec. 1245 ordinary income must be recognized? Sold for $200,000 Depreciation adjusted basis’s of $152,000 $200,000-$152,000= $48,000 b. What amount of Sec. 1250 ordinary income must be recognized? From insurance $300,000 depreciation ordinary $430,000 300,000-430,000= -70,000 c. Will the loss resulting from the destruction of her daughter’s pony be used to determine net Sec. 1231 gains or losses? Yes d. What is the amount of the net Sec. 1231 gain or loss? There’s a loss of $15,000 e. After all of the netting of gains or losses is completed, will the gain resulting from the involuntary conversion of the building be treate d as LTCG? No the building is old and it would seem not to fall into that category f. What is the amount of her unrecaptured Sec. 1250 gain? I would say zero because she never really sold anything How to cite Horse and Depreciation Adjusted Basis, Papers

Preparing a Vessel Prior to Loading for Cargo- myassignmenthelp

Question: Discuss about thePreparing a Vessel Prior to Loading for Cargo. Answer: Preparing for cargo hold prior loading The compartment must be neatly cleaned, and all previous load traces removed. After sweeping the compartment clean, washing should be carried out and allowed time for the drying of the compartments before the grains are loaded. Drying time is dependent on the climate but there must be an allowance of 2 3 days. Bilge wells and bilge spaces should be clean, dry and odorless and the condition must satisfy the testing surveyor. If this is not applicable the master should issue a certificate stating that non-return valves and bilge pumps are satisfactorily operating. Twin deck, al scruppers, fuel tank, and tank top sheathing should be grain tight and if the sheathing condition makes this impractical, sheathing should be covered with polyethylene, paper, hessian or any material that is suitable to prevent grain ingress (Terence, 2014). After inspection Bilge wells and bilge spaces must be closed with a hessian or porous material after inspection, so as to ensure there is no entry of the grain into the bilge well or space but allow water entry. Before loading grain into liquid cargo tanks, suctions in every cargo tank should be well sealed with hessian or a porous cloth ensuring that is not watertight but grain tight. If not fitted already there should be a provision of a sounding pipe. A testing surveyor must be satisfied that pipes leading to the tank are plucked off, to make sure that there will be no accidental flooding of the cargo during the planned voyage and a blanking off certificate should be issued by the chief engineer or master in case the surveyor ask so. If the vessel is to be loaded with bagged grain, it must adhere to the bulk grain requirements. Moreover, if the surveyor sees it necessary, bituminized paper and dunnage will be used to safeguard the cargo (Ratcliffe 2015). Australian marine surveyors, principal shipping agents, and Australian licensed grain shippers adopted the above stowage requirements after 2009 consultations. Ensuring that the vessel remains within the stress limits Due to a number of accidents that have occurred at sea because of vessels overloading, the importance of having a standard stress limit for the vessel was determined long before. Nevertheless, it has taken a lot of years since then to ensure international consensus for the general load lines applications. The earliest load line convention happened in the year 1930 and since then there have been periodic amendments until 2003 when the last amendment took place(Kyne, 2007). Normally, a general cargo ship is made to accommodate cargoes with the range of 1.39 to 1.67 cubic meters per tonne if fully loaded and capacities for dead weight. During loading of a high-density grain bulk cargo, special attention should be accorded to weight distribution for prevention of excessive stresses. However, it should be kept in mind that conditions of loading might be different with those normally found and that inappropriate distribution of such cargo might either be stressing the whole hull or stressing the structure under the load. It is impossible to set out regulations for all ships distribution of loading since the structural arrangement in every vessel might greatly vary. During loading, it is therefore important to use the ships stability information booklet in order to acquire correct information on the appropriate distribution of cargo or loading calculators can be used as well(journal, 2016). Requirements by AMSA prior to loading grains on a vessel To make sure that stability during voyage complies with regulations of SOLAS and hold bilges are satisfactorily operating, until one year ago AMSA (Australian Maritime Safety Authority ) surveyors could board a vessel at the Australian ports before loading grain. A consultant from outside conducted an assessment of this process and AMSA made a decision that a desktop audit would be satisfactory to make sure that relevant vessels adhere to the stability criteria as stipulated by IMO(Ratcliffe 2015). The master must ensure that the vessel adheres to the criteria of stability as per the determination by IMO. Desktop audit procedure provides that: A local agent of the master or the master himself must submit a notice of intention to load at least three days prior to the arrival of the ship. Before the loading begins, a stability form must be filled and faxed to the AMSAs office. After receipt of the form, AMSA will assess the information given and acknowledge it. In case, AMSA notices any discrepancies, the master will be needed to resubmit the form after making the recommended adjustments. In some circumstances, loading might not be permitted until the IMO stability criteria are fully adhered to (Terence, 2014). Vessel owners can ask for local surveyors assistance to make sure the AMSA form has been filled accordingly to avoid delays Other measures to consider regarding loading and carriage of grain cargo Many grains have a slip angle or angle of repose of about 20 degrees making it one of the most dangerous goods to carry in bulk. In case a ship rolls more than 20 degrees it might result in the shifting of the cargo which eventually can lead the vessel into capsizing(Kyne, 2007). Therefore, it is a responsibility of the master and requirement by various authorities to ensure that the vessel maintains stability even in case of shifting by the grain cargo. This can be possible through compiling of the grain loading form that fully shows the stability of the ship in the most difficult situations on passage. Strong emphasis is put on the ships stability that is carrying grains since they are liable to shift. The main purpose is that variation in grain type, including the size and ability to flow freely well loaded in bulk. Every ship in grain carriage must give grain specific stability data, including moments of grain heeling to the terminal(Kyne, 2007). This part focuses on different challenges, precautions which must be adhered to while loading and carrying grain cargoes. To prevent cargo shifting, the surfaces of the grain must be trimmed reasonably In case the cargo is only towed in the under compartment, hatch covers must be safeguarded in an appropriate manner. In case of the upper compartment towing where the tween deck covers are not grain-tight, they should be tightened using a sealing tape, separation cloths or tarpaulins. In compartments that are partly filled, the grain surface must be secured through over stowing excluding when due to shifting of the grain heeling moments have been calculated and considered for the vessels stability. Longitudinal divisions can be fitted to decrease heeling moments because of the grain shift in filled compartments, partly filled compartment, untrimmed and trimmed given that every division; Has downward extension from the lower side of the hatch covers Have an extensions from deck to deck in tween decks Is ensured that its grain tight Is built in accordance with standards of the grain code. The master should as well ensure that the vessel; Is able to adhere to intact stability criteria before loading at all steps of the voyage Has got each paperwork well done and on board Is standing upright before going deeper into the sea. References Michael Ratcliffe. (2015). Lloyd's Ship Manager, Volume 6. Charlottesville: the University of Virginia. Kyne, P. B. (2007). Cappy Ricks Retires. New York: Cosimo, Inc.,. Terence Coghlin, A. B. (2014). Time Charters. Boca Raton: CRC Press.

Political Forms Of Ancient India Essays - Civilizations,

Political forms of Ancient India Political forms of Ancient India The Indian sub-continent was the home of one of the earliest civilizations of man. In the history of ancient India we see many forms of society ranging from urban civilization of Indus Valley to the Classical Age of Gupta Dynasty. During this period we see a hierarchy of centralized and decentralized government. Some of which were highly organized in their political structure and government while others were merely weakened by internal problems and division of power. Indus Valley Civilization was one of the world's oldest and greatest civilizations which took shape around 3000 BC to 2500 BC in the valley of the Indus River. Remains of more than 100 cities, towns, and villages of the Indus Valley civilization have now been found from north of the Hindu Kush down the entire length of the Indus and beyond into peninsular India. Harappa and Mohenjo Daro are the two urban centers of Indus Valley civilization and the excavation of these sites reveal standardization and ordered society and ten centuries of relatively stable conditions. The city was amazingly well planned with broad main streets and good secondary streets. The houses of these cities were solidly built of bricks and many were multi-storied and equipped with bathrooms and lavatories. The high quality of the pottery, along with hoards of gold and silver found at Indus Valley sites, suggest great accumulation of wealth. Each city was laid out on a grid plan with a high citadel and a lower city of domestic dwellings. Urban planning is evident in the neat arrangement of major buildings contained in the citadel, including the placement of a large granary and water tank or bath at right angles to one another. The lower city, which was tightly packed with residential units, was also constructed on a grid pattern consisting of a number of blocks separated by major cross streets. The cities had an elaborate public drainage system. Sanitation was provided through an extensive system of covered drains running through the length of the main streets and connected by chutes with most residences. All these archeological evidences uncovered a strong centralized authority. The urban civilization of Indus Valley suggests a complex planning that undertook the region and the people lived up to the standard of the time. The Indus civilization appears to have declined rapidly in the early 2d Millennium BC. Archeological remains further indicate intermittent and devastating floods around this time and possible invasions by the Aryans, whose epics refer to their conquest of walled cities. The Aryans are said to have entered India through the fabled Khyber pass, around 1500 BC and gave rise to another civilization in Indian history, the Vedic period. The Aryans are believed to have developed the Sanskrit language and made significant inroads into the religion of the time. All these factors were to play a fundamental role in the shaping of Indian culture. The Aryans did not have a script but they developed a rich tradition. They composed the hymns of the four vedas, the great philosophic poems that are at the heart of Hindu thought. The Aryans were divided into tribes, which had settled in different regions of northwestern India. Tribal chiefmanship gradually became hereditary, though the chief usually operated with the help of advice from either a committee or the entire tribe. Tribal chiefs bearing the title Raja or king were at first little more than war-lords, and their principal duty was protection of their tribes. The power of the king positioned with the higher authority of the priests. Vedic kingship was the natural outcome of the conditions surrounding the Aryans. A king was the leader of the people in the war of aggression and defense. He is called the "Protector of the people". A study of the Rigveda shows that the king was no longer merely a leader of a primitive tribe, but occupied a position of per-eminence among the people. The protection of the people was the sacred duty of the king. In return, he expected and received loyal obedience from his subjects in the sense of a tribute to the king. With work specialization, the internal division of the Aryan society developed along caste lines. Their social framework was composed mainly of the following groups: the Brahmana (priests), Kshatriya (warriors), Vaishya (agriculturists) and Shudra (workers). The Brahmanas were referred to as the receivers of gift. The Vaishyas had to pay tribute for the lands that they got from the Kshatriya nobles. It was, in the beginning, a division of occupations; as such it was open and flexible. Much later, caste status and the corresponding occupation came